ImageBrief takes total funding to $2.2 million

Online photography start-up ImageBrief has lured former CVC Asia Pacific executive Adrian MacKenzie and Betfair chairman Andrew Klok to participate in a $700,000 capital raising. The latest round, which also includes follow-on funding from Square Peg Ventures, the investment vehicle backed by Seek co-founder Paul Bassat and Justin Liberman, brings the total raised by the digital venture to $2.2 million over the past two years.

The company matches freelance photographers with clients that want stock photography to match a specific brief. Chief executive Simon Moss moved the company’s headquarters to New York in late 2012 to be close to major advertising and creative agencies, which make up the bulk of ImageBrief’s clients. Most agencies use the incumbents, Getty and Corbis, for images but the start-up is making ground with its disruptive crowd-sourced play.

ImageBrief chairman Anthony Pascoe says the start-up has answered just over 1500 briefs from customers. “This [new] capital is to extend the runway to keep building on the success of the business,” Mr Pascoe said.

Although raising capital is known to be tough and time consuming, Mr Pascoe said the company’s continual search for funds had not detracted from the running of the business and didn’t reflect it was running out of money. “This is all on track and in line with plan,” he said. “If you’ve got a powerful value proposition and you can show some traction and momentum, you’re able to get investor momentum.”